A research report detailing resilience in cities with case studies from a real estate perspective.
- A city’s resilience is based on the interplay between vulnerability and adaptive capacity.
- The Business and Human Contexts:
- Successful real estate projects rely on stable and prospering cities in the long term. Although, without understanding the resilience of the people and communities that dwell within cities, pursuing real estate business can have ‘little meaning.’
- A City’s Vulnerability and Adaptive Capacity:
- Vulnerability: to climate change; to environmental threats; existing resource shortage; functioning of infrastructure; and weakened sense of community.
- Adaptive Capacity is measured through effective governance; capacities of institutions; levels of technological expertise; levels disaster management planning; and funding structures in place.
- Ranking Resilience of Cities:
- Through a six-step ranking process based on vulnerability and adaptive capacity, which is explained in detail, this report found Calgary to be the least vulnerable and Jakarta to be the most. New York is considered the most adaptive, whilst Cairo is the least.
- Overall ranking showed Toronto as the most resilient city, with Dhaka being the least.
- Using the Report:
- As a tool – the analysis can be modified to understand particular influences on vulnerability and adaptive capacities in cities.
- Create portfolios – can be used to guide investment in resilient cities.
- Contributing to resilience – the report highlights areas of vulnerability that can guide contributions to improving resilience and increasing adaptive capacities.